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SEC probes possible Apple insider trading, iPhone GPS nabs thieves

post #1 of 19
Thread Starter 
The SEC is looking into possible illegal trading of Apple stock; would-be iPhone robbers tracked down by GPS; and another celebrity appearance in a Get a Mac ad.

Suspected Apple insider trading investigated by SEC

According to internal Securities and Exchange Commission documents obtained by Dan Dorfman, financial columnist with The Huffington Post, an investigation is underway regarding four specific time periods in which suspicious trading activity of Apple stock took took place. The commission is looking to discover whether the trades were made with inside information not available to the public.

The report cites three speculative sources of information that likely caught the SEC's attention: iPod sales, the health of Steve Jobs, and the release of any public information regarding either topic. The column quotes one anonymous hedge fund trader who said that it appeared, based on the timing, that some buyers and sellers were employees of Apple.

Dorfman noted that the situation is unique because SEC investigations typically survey one specific time period, while this alleged query is more broad.



iPhone tracking feature locates robbers

Apple's Find My iPhone MobileMe feature reportedly led to the capture of suspects who allegedly stole a man's phone, according to the Pittsburgh Post-Gazette. The victim had his phone, wallet and credit card PIN number taken from him last week.

After the suspects fled with his belongings, the victim located his iPhone via GPS at an area Walmart. There, police said, the suspects purchased items with the victim's stolen credit card.

With the help of the iPhone's GPS, police managed to track down the three men and arrest them. They were charged with robbery, access device fraud, conspiracy, receiving stolen property and possessing instruments of crime.

Loggia in latest 'Get a Mac' ad

Prolific actor Robert Loggia is the latest actor to appear in Apple's popular "Get a Mac" ads. In the latest commercial, entitled "Trainer," Loggia appears as a personal trainer attempting to get John Hodgman's "PC" in shape.

Loggia notes, as Hodgman does sit-ups, that PC Magazine rated the Mac No. 1 in customer support, reliability and customer satisfaction. Loggia is an Academy Award-nominated and Emmy-winning actor who has appeared in countless TV shows and movies, including Scarface, An Officer and a Gentleman, The Sopranos and Independence Day.

Loggia



Recently, Apple debuted another advertisement, entitled "Top of the Line," that featured actor Patrick Warburton, best known as the character David Puddy from Seinfeld.
post #2 of 19
Excellent 2 page article in Sunday's NY Times re history of Apple's and Microsoft's advertising war.
Here it is:

http://www.nytimes.com/2009/08/30/bu...edia/30ad.html
post #3 of 19
Oh, so now it's getting more interesting- those Apple employees really know how to work the trades!
post #4 of 19
An owner of an East Village store, near where I live, had his iPhone knocked out of his hand while talking in broad daylight Friday. The assailant took off with it, one block from the police precinct! He chased the guy for 7 blocks but the guy got away. He doesn't have a mobile me account so he's out of luck. To add insult to injury he had to shell out $500 for a replacement. He was told when filing his police report that gangs are making it part of their initiation process - to steal an iPhone. Be careful my friends in NYC.
post #5 of 19
I like the new add. Stick with the facts..don't get too snipey. The new add is good on both points.
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post #6 of 19
So, it's not enough to be just a robber with a gun. You gotta have knowledge of current & new technology.
After 3 netbooks from acer, toshiba, hp, I find contentment in my 11.6 MB Air. Hoping the 8-hr battery version shows up soon.
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After 3 netbooks from acer, toshiba, hp, I find contentment in my 11.6 MB Air. Hoping the 8-hr battery version shows up soon.
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post #7 of 19
Quote:
Originally Posted by teckstud View Post

An owner of an East Village store, near where I live, had his iPhone knocked out of his hand while talking in broad daylight Friday. The assailant took off with it, one block from the police precinct! He chased the guy for 7 blocks but the guy got away. He doesn't have a mobile me account so he's out of luck. To add insult to injury he had to shell out $500 for a replacement. He was told when filing his police report that gangs are making it part of their initiation process - to steal an iPhone. Be careful my friends in NYC.

So Apple's new "Find my iPhone" feature will now be used to end gang violence in NYC?

Wow. Is there anything they can't do?
post #8 of 19
Quote:
Originally Posted by jamiec View Post

So Apple's new "Find my iPhone" feature will now be used to end gang violence in NYC?

Wow. Is there anything they can't do?

Only if you have a mobileme account, which I seriously doubt any PC folk have. I wonder how much percent of MAC iPhone users have mobileme?
post #9 of 19
I thought only higher executives in a company are subject to insider trading laws. The main thing is to remember Martha Stewart, don't lie. From what I understand, her trades on insider information weren't illegal, but she was convicted of lieing.
post #10 of 19
Quote:
Originally Posted by jamiec View Post

So Apple's new "Find my iPhone" feature will now be used to end gang violence in NYC?

Wow. Is there anything they can't do?

There's an app for that
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post #11 of 19
Quote:
Originally Posted by wtbard View Post

I thought only higher executives in a company are subject to insider trading laws. The main thing is to remember Martha Stewart, don't lie. From what I understand, her trades on insider information weren't illegal, but she was convicted of lieing.

Insider trading is insider trading -- you can't simply admit that you traded on inside information and get away with it. If you know something material about the company that people outside the company won't know, and trade on that information, then you're potentially an inside trader. The problem with catching lower-level employees trading inside is that their ownership of stock and their trades are not reportable to the SEC. So as a practical matter, top executives, members of the board, and large shareholders, are the only people to whom insider trading laws apply. That's the way I understand it anyway.
Please don't be insane.
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Please don't be insane.
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post #12 of 19
My iPhone was stolen prior to the "find" feature. The thief added the phone to his AT&T account along with others that had suspicious provenance. I filed a police report. AT&T knew who was using the iPhone and would not deactivate it as they considered him/her a customer. I purchased a new iPhone and dropped the prior contract down to $9.95 per for it's remaining months (I didn't have to pay the extra $200 that way). I am looking forward to eventually switching back to Verizon.

A man that worked in the AT&T store said the same thing happened to him. He could see who was using his iPhone on the store computer, but due to privacy laws would lose his job if he pursued it.
Cubist
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Cubist
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post #13 of 19
Quote:
Originally Posted by teckstud View Post

He was told when filing his police report that gangs are making it part of their initiation process - to steal an iPhone. Be careful my friends in NYC.

Really?? Sounds more like an initiation process for a Frat House. Who knew Mobile Moi would be a tool for cops to nab budding gang members! Perhaps that will be the "one more thing" that Steve announces next week.
post #14 of 19
I would equate a stolen phone to a stolen credit card. A person could rack up huge bills on such a phone. I find it very hard to believe that AT&T wouldn't cancel a phone's SIM access to it's network when the person reporting the issue could verify their identity as the account holder.
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post #15 of 19
Quote:
Originally Posted by wtbard View Post

I thought only higher executives in a company are subject to insider trading laws. The main thing is to remember Martha Stewart, don't lie. From what I understand, her trades on insider information weren't illegal, but she was convicted of lieing.

Actually, the lessons from Martha Stewart's case (irrespective of her actual guilt or innocence) are:

1. If you are being investigated, don't make public statements about it because they can be construed as obstruction of justice.

2. When questioned by law enforcement, or any government agent, invoke your 5th amendment privileges, as any misstatements you make, intentional or not, can be construed as lying to investigators.
post #16 of 19
Quote:
Originally Posted by city View Post

My iPhone was stolen prior to the "find" feature. The thief added the phone to his AT&T account along with others that had suspicious provenance. I filed a police report. AT&T knew who was using the iPhone and would not deactivate it as they considered him/her a customer. I purchased a new iPhone and dropped the prior contract down to $9.95 per for it's remaining months (I didn't have to pay the extra $200 that way). I am looking forward to eventually switching back to Verizon.

A man that worked in the AT&T store said the same thing happened to him. He could see who was using his iPhone on the store computer, but due to privacy laws would lose his job if he pursued it.

That is so unethical. I can't believe that BS!!!
post #17 of 19
Political discussion has been moved to a more appropriate location.
it's = it is / it has, its = belonging to it.
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it's = it is / it has, its = belonging to it.
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post #18 of 19
Quote:
Originally Posted by wtbard View Post

I thought only higher executives in a company are subject to insider trading laws. The main thing is to remember Martha Stewart, don't lie. From what I understand, her trades on insider information weren't illegal, but she was convicted of lieing.

Literally anyone can be charged with insider trading, provided they received information not readily available to the general public, and based their trades, or the timing of their trades, on that information.

It happens all the time. The problem most regulators have, is proving it.
Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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post #19 of 19
Quote:
Originally Posted by wtbard View Post

I thought only higher executives in a company are subject to insider trading laws. The main thing is to remember Martha Stewart, don't lie. From what I understand, her trades on insider information weren't illegal, but she was convicted of lieing.

Actually, she was guilty of both. They chose to charge her only with lying about it, as it appeared to be the stronger case.

Don't weep for Martha, she knew EXACTLY what she was doing, and that is one of the reasons why they went after her with a vengeance.

How do I know this? She was an active securities trader for over 10 years. In order to keep your license current, you must take and pass refresher courses as part of your compliance.

Trust me when I say she knew what rules she was breaking by authorizing her broker to place the trades.
Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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